Source: FARM PROGRESS, 8/26/21


Curt Zehr knows this: His parents bought some of the ground he farms for $750 an acre. Today, that ground is worth $15,000 an acre. And if Congress enacts the Biden administration’s Build Back Better tax plan without an exemption for family farms, Zehr’s family will pay a 40% tax on everything after the first million dollars. “I can envision us having to sell 25% to 50% of our ground to pay that tax, if stepped-up basis goes away,” Zehr says. And then he looks away, shakes his head.

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